- Tesla is set to unveil its new all-electric semi-truck on Thursday.
- The company is still struggling to produce its Model 3 vehicles.
- Watch Tesla’s stock price move in real time.
Tesla shares are up 1.18% to $314.90 on Thursday ahead of the company’s big semi truck event.
Tesla is set to unveil its semi truck at 11 p.m. EST at its design studio in Hawthorne, California. The truck is rumored to be all-electric, and have a range of about 300 miles on a single charge.
Details from the company are sparse ahead of the event, but Morgan Stanley thinks the truck could cost about $100,000. To accomplish long-range shipping, Tesla could make the batteries swappable, so a truck could pull into a Tesla station that could automatically change exhausted batteries for fully-charged ones.
Tesla has had to delay the announcement event several times thanks to its ongoing problems ramping up Model 3 production. The first mass-marketed car from Tesla is way behind the company’s original production schedule. In its most recent earnings report, Tesla pushed back its 1,500-vehicles-a-week goal from December to the end of its first quarter next year.
The battery production at the company’s Gigafactory in Nevada had faced issues that forced some parts of the batteries to be assembled by hand. The company recently found the source of the problem and said it is on pace to solve the bottleneck which could significantly increase production.
Tesla fans will be able to watch the unveiling on the semi truck via the company’s live stream on its website.
Tesla is up 46.44% this year.